AFA, FPA Join Forces on Future of Risk Commissions in Australia


The Association of Financial Advisers and the Financial Planning Association have agreed to work together in their efforts to advocate for the retention of life insurance commissions beyond ASIC’s 2021 Review of the impact of the Life Insurance Framework reforms.

The purpose of the taskforce is to …deliver a single and united message to the Government

The purpose of the bipartisan taskforce that unites the two major Australian adviser associations is to ensure that the message from the adviser community is delivered in a single and united voice to the Government and its regulators about the value of advice and the critical importance of the perpetuation of life insurance commissions as a valid form of remuneration.

While the joint association taskforce has yet to convene, advisers have been made aware of this initiative during the recent FPA roadshow series.
Riskinfo understands the combined advocacy group will have an equal representation from both associations and that it will meet shortly to establish its agenda and the key messages it will be delivering to the returned Coalition Government, the Federal Opposition, the regulators and the life insurance companies.